Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

NetApp Repurchases Stock

SUNNYVALE, Calif. -- Network Appliance, Inc. (NASDAQ:NTAP - News), a leader in advanced networked storage solutions, today announced that its board of directors approved a new stock repurchase program in which up to $1,000,000,000 worth of its outstanding common stock may be purchased. This approval is in addition to approximately $200,000,000 remaining from all prior authorizations. Under the program, Network Appliance, Inc. can purchase shares of common stock through open market and privately negotiated transactions at prices deemed appropriate by management. The timing and amount of repurchase transactions under this program will depend on market conditions, corporate considerations, and regulatory requirements. The purchases will be funded from available working capital. As of July 27, 2007, Network Appliance, Inc. had approximately 363,200,000 shares of common stock outstanding.

Network Appliance Inc.